5 Things You Need to Do Before Buying a Home

A home is often the biggest financial investment you’ll make in your lifetime. Just remember a couple of pointers before making the decision to sell or buy a home as they will help you massively no matter what the circumstances are a recession or economic boom.

1. Buy for the Long Term

A home is a significant investment, not to mention a linchpin of stability. According to the latest survey people normally live off a decade in a home before they decide to put on the market and that’s actually right. So, buy a home you imagine living in for at least 5 years as home flipping or changing isn’t normal. Make sure your home is equipped with all the features that you desire!

1. Buy to improve your life, not speculate with money

Your home is more than a financial investment; it’s where you sleep, eat, host friends, raise your children it’s where your life happens. The housing market is too unpredictable to buy a (primary) home purely because you think it will net a big short-term financial return. You will most likely be living in this home for several years, regardless of how it appreciates, so your first priority should be finding a home that will meet your needs and help you build the life you want. Don’t fuss on the money or speculate too hard, in case you have your mind set on one pretty homestead.

1. Focus on what’s important to you

Focus on finding a home you can afford that meets your needs — but don’t get distracted by shiny features that might break your budget. Nice-to-have features often drive up the price tag for things you don’t particularly value once the initial enjoyment wears off. Make a list of your basic needs, both for your desired home and for your desired neighborhood. Stick to finding a home that meets these needs, without buying extra stuff that adds up.

1. Set a Budget and Stick to it

It’s important to set a budget early — ideally before you even start looking at homes. In today’s market, especially in the more competitive markets, it’s incredibly easy to go over budget. Consult Apex Group and make use of our real estate agents to help you understand the property market trends a little better, and perhaps help you locate your dream house at a location of your choice.

1. Aim for a 20% Down payment

A higher down payment reduces your financial risk. You don’t want to owe more money than your house is worth if local markets dip when you need to sell.

Also make sure you gather all the information from the internet, agents, neighborhood and such before drilling down to one home you have set in your mind. For more news and blogs stay tuned to us.